Twenty semi-annual deposits are made earning interest of 5% compounded semiannually. The size of the first deposit
Question:
(a) Determine the total amount deposited.
(b) How much was the accumulated value of the deposits just after the last deposit was made?
(c) What is the size of the 12th deposit?
(d) What is the amount of interest included in the accumulated value?
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PMT 120000 k 15 0015 n 20 i 5 2 25 0025 a Total amount deposited 120000 ...View the full answer
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Related Book For 
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
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